Platinum

platinum today:
2141.00
2151.00
+40.00
+1.90%

And there are nearly 3 hours to go before the market closes!

 

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I think you are right that it hasn't changed from what it would have been, but demand has been increasing yearly as this graph shows. Also they now have an ETF where people can invest in platinum without buying it directly which adds even more demand.

The supply meanwhile has been cut, first it was the mines being shut when a worker was killed, and now it is cut more due to the electricity issue. It will be interesting to see where the price is at the end of the year but forecast is for less supply and more demand so this price of $2100 may be a bargain. I think the US MInt eagle platinum coins this year will be scary expensive and could be the lowest mintage platinum US coins of all time beating out even the 2006 W's at least in the 1 ounce size.

 

Thanks guys, this thread has opened up a lot of info. Back in 1971 I purchased 5 credit suisse platinum 1 0z ingots for $165. ea and sold them a few years later for $505. Sure wish I'd have kept them NOW!! At the time I puchased the platinum ingots unc. gold double eagles were selling for in the $75 to $90. range, the gold price was approx $100. and eventually rose to $177. before settling back, hindsight hurts!!

 

Since this post, Platinum has started to decrease, not substantially but it is slowly losing ground to Palladium. Mark my word, Palladium is still a good investment. I am almost 100% sure it's on it's way to $1000 within a few months. It has been through this process before and it's happening again. One more time, my advice is sell your platinum and convert to Palladium.

 

What if everyone in the U.S., East of the Rockies and West of the Appalachians flushed their toilets at the same time, would the Mississippi River raise 2 feet, drop 2 feet or remain at a constant level?


Frank

 

One thing I don't understand... if Palladium is such a ready substitute for Platinum in catalitic converters, why wasn't it used in the first place?

 

Actually its not such a ready substitute... I think only 5-6 years ago all deisel vehicles were having purely platinum based catalysts... now they are figuring out how to substitute palladium (yet not eliminate platinum completely), but as far as I have heard, platinum is more efficient...

 

the problem with platinum is that the equipment is all banged up and mining has come to a halt. As soon as the mines are up and running again in a few months, you will see platinum level off, if not start to decline. Thus making it a point to look seriously at palladium. Not saying dump platinum, but if you are looking for more growth potential in the next 12 months, palladium is definitely worth investing some serious funds.

 

Er minor correction, there's 13 known (the Smithsonian has 2 in its collection.)

No way of knowing how many more are actually out there, but so far only one has been confirmed legal to privately own and that's highly unlikely to change. You are correct though if the other 10 are declared legal to own, they'd very likely sell for less than the $7.5 million. If the government ever sets a precedent that any other 1933 double eagles that might be yet undiscovered are legal I'd imagine the value would drop significantly, but only after more were discovered. If just the 10 disputed ones are ever declared legal I don't think the owner would have much trouble getting about $1 million a piece for them, should he choose to sell. The reason the 1933 double eagle auctioned so high is because it's essentially unique... as long as it's the only one that's legal to own it doesn't matter if a thousand more are found.